https://www.taxtmi.com/caselaws?id=267599 The High Court set aside a notice issued under section 201(1)/201(1A) of the Income-tax Act for the financial year 2007-08, deeming it time-barred under section 201(3). The court ruled that a subsequent notice in 2015, attempting to benefit from a 2014 amendment extending the limitation period to seven years, was invalid as no new information justified the extension. The court emphasized the significance of the limitation period in restricting the Assessing Officer's power and concluded that the 2015 notice, based on existing information, could not revive proceedings concluded earlier. The court deemed both the notice and subsequent order unsustainable and allowed the writ petition. en-us Thu, 09 Jul 2015 00:00:00 +0530 Mon, 09 Nov 2015 16:30:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267599 The High Court set aside a notice issued under section 201(1)/201(1A) of the Income-tax Act for the financial year 2007-08, deeming it time-barred under section 201(3). The court ruled that a subsequent notice in 2015, attempting to benefit from a 2014 amendment extending the limitation period to seven years, was invalid as no new information justified the extension. The court emphasized the significance of the limitation period in restricting the Assessing Officer's power and concluded that the 2015 notice, based on existing information, could not revive proceedings concluded earlier. The court deemed both the notice and subsequent order unsustainable and allowed the writ petition. Case-Laws Income Tax Thu, 09 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267599